IPO
Gem Aromatics’ Rs.451-Cr IPO subscribed 30x
Mumbai-based specialty ingredients manufacturer Gem Aromatics ’ INR 451 crore IPO has been subscribed over 30 times. The IPO consists of a fresh issue along with an offer for sale (OFS).Retail investors subscribed to 10.49 times their allocated shares, Non-Institutional Investors (NIIs) 45 times and Qualified Institutional Buyers (QIBs) 53 times.The primary funds raised from the IPO will be used for debt repayment or prepayment and general corporate purposes.Founded in 1915, Gem Aromatics sells essential oils, aroma chemicals, and value-added derivatives used across sectors such as oral care, personal care, wellness, nutraceuticals, and pharmaceuticals.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
